Meme coins have been a hot topic of discussion in the crypto market ever since. Among many, Pepe Coin is one of the top meme coins that tapped the meme-driven hype; the Pepe Coin price grew exponentially. Since its launch, the meme coin has gained immense popularity among meme enthusiasts and investors, allowing it to gain a substantial amount of market capitalization. In fact, now the meme coin is on its way to challenge the king of altcoins, Ethereum (ETH).
This seems to be the case, as investors are now losing confidence in Ethereum because of its sluggish performance. Meanwhile,PEPE price today has broken above a crucial level, which hints at a massive bull rally going forward. Ergo, let’s find out whether investors should consider buying PEPE and shorting Ethereum.
Pepe Coin Price Breaks Key Resistance
CW, a popular crypto analyst, recently posted a tweet on X revealing that the Pepe coin price has been moving inside a down channel for multiple weeks. The better news is that the meme coin managed a breakout above that pattern, which marked the beginning of a new bull rally.
However, the analysis also mentioned that the real bull rally will begin after the Pepe coin price breaks above three selling walls. Therefore, mentioning the Pepe coin price forecast, it will be crucial for the meme coin to first go above $0.000019 before eyeing higher targets in the coming weeks or months.
$PEPE has broken the downtrend channel. The rally has already begun.
The real bull market will begin once the three selling walls above are broken. pic.twitter.com/19ehalsZni
— CW (@CW8900) April 20, 2025
As the meme coin broke the resistance and moved ahead, investors’ confidence in it has also been increasing. Santiment’s data clearly pointed out that positive sentiment around PEPE rose last week. Since meme coins are mostly hype-driven, an increase in positive sentiment might have a bullish impact on PEPE’s price.
Are Investors Reluctant to Buy Ethereum (ETH)?
While PEPE’s price is showing much potential going forward, the king of altcoins, Ethereum, might face headwinds. This seems to be the case as selling activity has risen. This was evident from the spike in its exchange outflow during the last seven days.
At the time of writing, ETH value is $1,650, which is well below its March 2025 high. If selling pressure remains high, then ETH’s 24-hour gain of 3% might get nullified soon, in turn pushing it under $1,500 once again.
Final Words
In conclusion, rising optimism and a key breakout have fueled bullish sentiment around Pepe coin price, signaling strong upside potential. In contrast, Ethereum’s waning momentum and increasing sell pressure suggest it might be time to buy PEPE and short ETH.
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